Is it good that US is in recession because it's time to stop borrowing and not expect our children to pay back

Question

"how is the government going to be able to provide the children with a better education"??

I'll tell you how - by getting out of the way!!

Answer 1

I remember the Democrats whining like girls when Reagan was in office, telling us that it would take generations to pay the national debt.

Looks like the sky is falling again, huh chicken little?

Answer 2

Yep.  STOP being a consumer. We don't need 70% of what we think we need.

Live simply, utilize only the basics, and stash that cash. Don't buy anything, except food you prepare yourself, turn the temp in your house down to 68 degrees, use an older vehicle that gets at least 30 mph or better.  Don't buy any new clothing.  Recycle what you have by caring for it yourself or having a professional restore it, and fix everything that you have that's broke.  Don't buy anything new. And CUT UP the credit cards.

Buy only what you can pay for with cash or check.

STOP spending altogether except those things you need.  Food, water and shelter.

Answer 3

Borrowing is a burden that is being passed to the next generation.  Thus, it is better not to borrow.

Answer 4

No---it might make people more aware of the serious burden this administration has put on future generations---but in order to pay back the national debt and have the children have a real future we have to have jobs--so that we can pay taxes which then can be invested in our children's future - I mean, how will you be able to get a better house or modernize your house if you have no job--how will you eat if you have no job--at the same token, how is the government going to be able to provide the children with a better education for a better future if people have no jobs!!!  No matter which way you turn this--both sides of the coin say that we have to have jobs---

Answer 5

When the economy goes into recession, Federal tax collections go down, the number of people applying for aid (such as food stamps) goes up. The government needs more money to operate. Borrowing increases.

Deep doo doo ahead.

Answer 6

As long as we are in the Federal Reserve system we will always be in debt. That is what the Fed does, loan money to the government. Our taxes go to repay the debt plus interest. The Federal Reserve is made up of private bankers.

Answer 7

If you'll check the national debt figure, you'll find there is no chance that our children, or our children's children's children's children will ever pay it off...that's a fact, and it really doesn't matter whether we borrow or not at this point...